Mr. Michael Halstead reports

HELUS PHARMA ANNOUNCES CO-FOUNDERS' TRANSITION FROM EXECUTIVE LEADERSHIP AS COMPANY ADVANCES TOWARD NEXT STAGE OF DEVELOPMENT

Helus Pharma Inc. co-founders Eric So and Paul Glavine have stepped down from their respective executive and consulting roles while continuing to serve as members of Helus Pharma's board of directors.

The transition reflects the company's evolution into its next stage of growth and the co-founders' full confidence in the company's leadership and strategic direction. Having established the foundation for the company's product pipeline, programs and objectives, the co-founders believe that Helus Pharma is well positioned to advance its programs under its current executive leadership. Mr. So has served as the company's president and executive chairman since incorporation and had previously acted as interim chief executive officer. Mr. Glavine has served as the company's chief growth officer since 2021 and had previously served as chief operating officer and chief executive officer.

The company today also announced the appointment of Mark Lawson as independent chair of the board of directors, effective immediately. Mr. Lawson is a private equity and investment banking executive with over 20 years of experience and has served as a member of Helus Pharma's board of directors since November, 2020. Mr. Lawson currently serves as chair of the audit committee, and a member of the compensation committee and corporate governance and nominating committee.

The company also announced that the board of directors has named Mr. So as chairman emeritus, an honourary title, reflecting Mr. So's contribution to the company and the board of directors.

"Helus Pharma has reached an important stage in its development and we believe the company is well positioned to advance its programs through the next phase of growth," said Mr. So and Mr. Glavine in a joint statement. "We have complete confidence in our recently appointed CEO, Michael Halstead, our board of directors, and the rest of our experienced leadership and scientific team, and in their ability to execute on the company's strategic priorities and advance its lead programs through commercialization. We believe Helus Pharma is at the right point in its growth trajectory for this transition, and we look forward to continuing to support the company's execution and growth in our capacity as members of the board of directors."

"I am honoured by the board's confidence in appointing me as chair of the board, and have great confidence in the company's leadership, pipeline and future," said Mr. Lawson. "We have an experienced leadership team, and I look forward to working with the board and management in executing against the upcoming HLP003 and HLP004 clinical, regulatory and commercial milestones," concluded Mr. Lawson.

"I want to thank Eric and Paul for the confidence they have shown in me and for their continued support of the company and the broader leadership team," said Michael Halstead, chief executive officer of Helus Pharma. "Their contributions have established a strong foundation for the company, its programs and its mission to make important new mental health treatments available to people in need. As we continue to execute against upcoming milestones, their continued involvement at the board level will be invaluable."

The company continues to anticipate reporting top-line data from its phase 3 Approach pivotal study of HLP003 in major depressive disorder in Q4 (fourth quarter) 2026.

About Helus Pharma Inc.

Helus Pharma is a clinical-stage pharmaceutical company committed to improving the treatment landscape in mental health through the development of NSAs, synthetic molecules designed to activate serotonin pathways that are believed to promote neuroplasticity. The company's proprietary NSAs are intended to address the large unmet need for people who suffer from depression, anxiety and other mental health conditions.

Helus Pharma is currently developing HLP003, a proprietary NSA, in phase 3 clinical development for the adjunctive treatment of major depressive disorder that has received breakthrough therapy designation from the U.S. Food and Drug Administration, and HLP004, also a proprietary NSA in phase 2 for generalized anxiety disorder. Additionally, Helus Pharma has an extensive research portfolio of investigational NSAs.

The company operates in Canada, the United States, the United Kingdom and Ireland.

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